Spring is a popular time for people to begin viewing Sacramento homes for sale with the hopes of purchasing a property. However, if you're hoping to buy a house in the coming months, you may need to take a look at your credit and start doing what you can to raise your credit score.
"For those with bad credit, buying a home can feel like an impossibility," writes FoxNews.com contributor Adam Verwymeren. "Even if you can qualify for a mortgage, a bad credit score will likely leave you saddled with a high interest rate, making those monthly payments much more expensive than they need to be. So improving your credit score is going to be a crucial step before you start house hunting."
Here are a few things you can do to repair your credit score and ensure that it's in good shape before you apply for a mortgage:
- Avoid taking out new lines of credit - You shouldn't be making any large purchases, such as a new car, in the months leading up to buying a house. You also want to avoid opening any new credit cards.
- Look for errors on your credit report - The last thing you want is for your credit to take a hit for something that you didn't even do. It's possible that your credit report could have some errors, so look it over carefully.
- Reduce your debt - Anything you can do to start chipping away at your debt will help. Focus on high-interest debt like credit cards that count more against you than, for example, student loans.
No matter what your financial situation is like, there may be options that you aren't even aware of that can help you pursue your dream of homeownership. Contact Jon Hesse, one of the top real estate agents in Sacramento, to schedule an appointment and begin the steps toward buying a house.